If you're looking for an Indianapolis financial advisor, you've come to the right place. Castle Investment Advisors, an SEC-registered company, specializes in managing personal assets and retirement funds. In addition, they have a separate division called the Castle Valuation Group, which prepares business valuations for both public and privately held companies. Castle Investment Advisors can assist you with all aspects of business transactions, including retirement planning and selling.
Fiduciary financial planners put clients' interest before their own
A fiduciary financial advisor is a financial advisor who puts the best interests of their clients first. Fiduciaries adhere to strict legal guidelines. They do not receive any compensation from the companies that they recommend. Their advice is impartial and free of conflicts of interest.
As a fiduciary financial advisor, your financial advisor will invest your money with the greatest care and diligence. Their goal is to protect your interests, so they won't make any recommendations without you consent. A fiduciary advisor will help you identify the best investments, balance your portfolio, and provide assurance.
Senior financial advisors
Senior financial advisors are available to help seniors manage their finances and keep them from falling prey to fraud. Choosing the right advisor is important in order to meet the needs and financial goals of your loved one. Seniors who want to increase their retirement savings have different goals than those who are more concerned about managing their existing nest eggs.
Many Indianapolis-based companies offer senior financial advisory services. CFG Wealth Management Services (one example) is one of these companies. The Indianapolis firm offers educational services, investment management, and retirement planning to its clients. Its team of professionals has over 30 years of experience in retirement planning and asset management. Each advisor has been certified as a financial planner.
Advisors that charge a fee
An Indianapolis fee-only financial advisor can be a great choice for your financial planning. These advisors can help with retirement income planning, tax planning, investment management, and tax planning. These independent fiduciaries earn their compensation directly from clients. This eliminates potential conflicts of interests that could arise from commission-based arrangements.
Fee-only Indianapolis financial advisors are charged based on the fiduciary. They charge either a flat fee of $1,000-$2,000 or an hourly fee of $200-500. Additionally, you may have to pay a $100-$1000 per month retainer fee to continue asset management. Some advisors will also charge a commission based on certain products or a percentage to the portfolio.
Costs of working with an advisor financial advisor
Working with a financial adviser in Indianapolis is an individual decision that can be very variable. There are a few things to consider when choosing an adviser. First, make sure you ask if the adviser is charged a fee. This will ensure you are getting advice that is consistent with your best interests. Additionally, a fee-only financial advisor is less likely to push unnecessary products on you.
Next, think about whether your advisor is a Fiduciary. This means, they are legally obligated to serve their clients best interests. The companies that they recommend do not pay a fiduciary. Instead, they are compensated only for recommending products that you would be most interested in.
FAQ
Can anyone become a consultant
A consultant is someone who helps you achieve your goal by providing advice on how to do something better, faster, cheaper, etc.
Consulting can be a great way to solve problems, make informed decisions, and work with others.
Consultants are often hired for specific projects or tasks.
Consultants are usually paid hourly, daily or per project.
Who hires consultants?
Many businesses hire consultants to assist them with their projects. These include small businesses, large companies, government agencies and non-profits.
Some consultants work directly with these organizations while others freelance. The process of hiring depends on the size and complexity the project.
When hiring consultants, you will probably go through several rounds of interviews before choosing the person you think would be best suited for the position.
Is it necessary to pay taxes on consulting income
Yes, you will need to pay tax on your consultancy profits. The amount depends on how much you earn per year.
If you're self-employed, you can claim expenses on top of your salary, including rent, childcare, and food.
But, interest payments on loans, vehicle and equipment depreciation will not be allowed to be deducted.
If your annual income is less than PS10,000, you can only claim 25% back.
However, even if your earnings exceed this threshold you may still be subject to tax depending on whether or not you are a contractor or an employee.
Employees are generally taxed through PAYE (pay as you earn) and contractors through VAT.
What was the origin of modern consultancy?
Consultants were originally accountants who could help companies manage their financial affairs. Because they were skilled in managing financial information, they became "accounting consulting". But, their role soon expanded to other areas such as human resource management.
The term "consultant" came from the French word for "to advise." It was used by businessmen to describe someone who could offer advice on how to run an organization. Even today, many business owners still use "consultant" when referring to professional advisors.
How do I choose the right consultant?
There are three main factors to consider:
-
Experience - How experienced is the consultant? Are you a beginner or an expert? Does her resume demonstrate that she has the required skills and knowledge
-
Education – What did this person learn at school? Did he/she take any relevant courses after graduating? Are we able to see evidence of his/her learning through the way he/she writes
-
Personality: Do you like this person or not? Would we want him/her to work for us?
-
These questions can help you determine whether the consultant is right for your needs. If the answers are not clear, it may be worthwhile to interview the candidate in person to get more information about them.
What qualifications does a consultant need?
It is not enough to have an MBA degree. You must also have experience as a consultant. At least two years experience in training and/or consulting for major companies is required.
You must have worked closely with senior management teams on strategy development projects. This requires you to feel confident presenting ideas to clients, and getting buy-in.
You'll also need to pass a professional qualification exam such as the Chartered Management Institute's Certified Management Consultant (CMC) certification.
Statistics
- According to statistics from the ONS, the UK has around 300,000 consultants, of which around 63,000 professionals work as management consultants. (consultancy.uk)
- My 10 years of experience and 6-step program have helped over 20 clients boost their sales by an average of 33% in 6 months. (consultingsuccess.com)
- 67% of consultants start their consulting businesses after quitting their jobs, while 33% start while they're still at their jobs. (consultingsuccess.com)
- WHY choose me: Why your ideal client should choose you (ex: 10 years of experience and 6-week program has helped over 20 clients boost their sales by an average of 33% in 6 months). (consultingsuccess.com)
- "From there, I told them my rates were going up 25%, this is the new hourly rate, and every single one of them said 'done, fine.' (nerdwallet.com)
External Links
How To
How do I find a good Consultant?
It is important to understand what you are looking for in a consultant before you can find one. Do you want them to help you improve your website's performance? You may want them optimizing your site to rank higher for search engines. Perhaps you simply need someone to tell you if your current host provider is having issues. Once you know what type of services you need, you should start looking at different companies. There are many consultants out there who claim they can provide these services, but only a few actually live up to their claims. How do you select the right consultant for your project? Here are some things that you need to keep in mind when selecting a consultant.
-
Get referrals. This is probably one of the best ways to find a consultant. You don't want to hire someone you've never heard of before because you'll likely pay too much. But you also don't want to work with someone whose reputation isn't solid. You're fortunate enough to receive referrals from people you trust. But even if you don't, you still might be able to check reviews online. Find testimonials and case study examples from customers who have used your product.
-
Ask around. Many people aren't aware that they could benefit from hiring a consultant. Many people believe that they are doing well and don't need any changes. However, this is usually untrue. Even if your results are great, there's a good chance that you haven’t kept up with the latest trends and technologies. And if you're relying on outdated methods, you'll miss out on opportunities to grow your business. It's worth asking your friends and family for recommendations to help you find the right consultant.
-
You should verify their qualifications. You need to verify their qualifications when you are searching for a consultant. You must ensure they have the necessary skills and qualifications to carry out the tasks.
-
Find out what kind of projects they specialize in. While you might assume that everyone can handle everything, this isn't true. Some areas require specific types of training or education. You won't hire a Drupal developer if you need to build a WordPress template. It is the same for programming languages, graphic design, and so on. Be sure to ask what kinds of projects they typically work on.
-
Find out what their charges are. As we said, you don't want to pay too much for a consultant. But you also don't want to pay too little either. Consultants come in all shapes and sizes. There are some that charge an hourly fee, while others may bill per job. It's cheaper to know upfront what you are paying than later.
-
Learn what they offer. Are they available for free consultations Can they provide advice on how to setup your own system? Is there a guarantee that your site will rank higher after working with them? You can cancel the consultation without penalty if your opinion is not what you wanted.
-
Ask if they offer discounts over multiple months or for years. Many consultants offer discounted pricing for extended time periods. You may not need to commit to a full year, but you may also take advantage of whatever deals they offer.